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Today's Buddha's Wisdom - "When wondering which path to take, choose the middle first and see what happens. This applies to nearly all aspects of daily life including the desire to lose weight, parenting, business strategy, etc. Moderation and balance are keys to a happier life. Not practicing your life in this way leads to unhappiness and a perpetual sense of being pulled in one direction, and then another. This path is the same that the Buddha chose for himself, and is always close to the source of all of his teachings. "
Today's Fortune - "Kisses that are easily obtained are easily forgotten."
Buddha's Wisdom for today:
"Each day as you awake think, "I may die today." Then ask yourself how you wish to feel on your last day here. You can also use this thought to calm your mind in nearly any circumstance. This can also help to insure that you will not have any regrets. It also serves the purpose of generating a positive attitude which is widely believed to contribute to a longer, and healthier life."
IT SOUNDS LIKE INVESTING IN PINKS?
Today's Fortune:
"It's better to remain silent and be thought stupid than to open your mouth and forever remove all doubt."
Buddha's Wisdom for today:
"When perceiving faults in others, it is very beneficial to think of what we can learn from just observing without comment, and to think of what may be causing others to act in such a manner. This way the wrong actions and speech of others can act as a constant source of wisdom, and not just something else for us to complain about. From this manner of thinking we can learn about how to correct our own faults, and learn to generate compassion for others. We never know what misfortune someone may have experienced to cause them to behave in a certain way."
CHN - The China Fund, Inc. Declares Dividend and Capital Gain Distribution
2006-12-08 13:43 ET - News Release
NEW YORK, Dec. 8 /PRNewswire-FirstCall/ -- The China Fund, Inc. , today announced that it has declared an annual dividend and capital gain distribution to the Fund's stockholders, totaling $4.0116 per share. The total dividend and capital gain distribution per share consists of net investment income of $0.2996 per share and realized short term and long term capital gains of $0.9811 per share and $2.7309 per share, respectively. The dividend and capital gain distribution will be payable on December 29, 2006, to the stockholders of record at the close of business on December 21, 2006.
A limited portion of the distribution of net investment income may be subject to a maximum tax rate of 15% as provided for by the Internal Revenue Code. Complete information will be reported to shareholders in conjunction with their 2006 Form 1099-Div which will be distributed during January 2007.
The Fund has a Dividend Reinvestment and Cash Purchase Plan (the "Plan") that is open to all shareholders. If the Fund shares trade at a premium to the net asset value of the Fund, the dividend reinvestment provides you as a shareholder the ability to invest in the Fund at an amount less than market price per share. If the Fund is trading at a discount, Plan participants will receive shares of the Fund valued at market price per share. All shareholders may elect to participate in the Plan and may withdraw at any time within the limitations described in the Plan.
The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investment in the equity securities of companies engaged in a substantial amount of business in the People's Republic of China.
The China Fund, Inc. is traded on the New York Stock Exchange with the ticker symbol "CHN". The Fund's listed investment manager is Martin Currie Inc. The Fund's direct investment manager is Asian Direct Capital Management.
For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at http://www.chinafundinc.com.
CONTACT:
Tony Fernandes
State Street Bank & Trust Company
617-662-2965
China Fund, Inc.
The
CONTACT: Tony Fernandes for The China Fund, Inc., +1-617-662-2965
Web site: http://www.chinafundinc.com//
NTES - NetEase Provides Update on Open Beta Launch of Tianxia II
2006-12-08 08:30 ET - News Release
BEIJING, Dec. 8 /Xinhua-PRNewswire/ -- NetEase.com, Inc. , one of China's leading Internet and online game services providers, today announced that it will launch Phase I open beta testing of the Company's next generation online 3-Dimensional MMORPG (massive multiplayer online role- playing game) Tianxia II, to approximately 100,000 accounts during the final week of 2006. The Phase I open beta launch is aimed at testing the stability of the game engine while allowing time to resolve any outstanding minor system flaws prior to the broader scale Phase II open beta test that is expected to conclude during the first quarter of 2007.
William Ding, Chief Executive Officer and Director of NetEase stated, "By initiating our testing to a limited audience during the Phase I open beta period, we believe we can conclude the Phase II open beta period during the first quarter within a relatively short time period. We now expect the commercial launch of Tianxia II to also occur during the first quarter of 2007, and our commercial marketing program will begin early in the year to coincide with Phase II open beta testing and drive player activity during the free trial period. We believe a dual-phase open beta test provides a comprehensive testing framework that enhances our ability to deliver a flawless best-of-breed game to market.
"We have already received favorable response to Tianxia II through our closed beta test," Ding continued. "With no major technical or functionality issues thus far, our development progress is proceeding steadily and we are confident about the results of the upcoming open beta launch and time-to- market for our newest MMORPG."
About NetEase
NetEase.com, Inc. is a leading China-based Internet technology company that pioneered the development of applications, services and other technologies for the Internet in China. Our online communities and personalized premium services have established a large and stable user base for the NetEase websites which are operated by our affiliates. For the month of September 2006, the NetEase websites had more than 535 million average daily page views, making us one of the most popular destinations in China and on the World Wide Web. In particular, NetEase provides online game services to Internet users through the licensing or in-house development of massively multi-player online role-playing games, including Fantasy Westward Journey, Westward Journey Online II and Datang.
NetEase also offers online advertising on its websites which enables advertisers to reach our substantial user base. In addition, NetEase has paid listings on its search engine and web directory and classified ads services, as well as an online mall, which provides opportunities for e-commerce and traditional businesses to establish their own storefront on the Internet. NetEase also offers wireless value-added services such as news and information content, matchmaking services, music and photos from the Web which are sent over SMS, MMS, WAP, IVR and Color Ring-back Tone technologies.
Other community services which the NetEase websites offer include instant messaging, online personal ads, matchmaking, alumni clubs, personal home pages and community forums. NetEase is also the largest provider of free e-mail services in China. Furthermore, the NetEase websites provide various channels of content. NetEase aggregates news content on world events, sports, science and technology, and financial markets, as well as entertainment content such as cartoons, games, astrology and jokes, from over one hundred international and domestic content providers.
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online game market will not continue to grow or that NetEase will not be able to maintain its leading position in that market, which could occur if, for example, its new online games or expansion packs and other improvements to its existing games do not become as popular as management anticipates; the risk that changes in Chinese government regulation of the online game market may limit future growth of NetEase's revenue or cause revenue to decline; the risk that NetEase may not be able to continuously develop new and creative online services; the risk that NetEase will not be able to control its expenses in future periods; the impact of the outbreak of severe acute respiratory syndrome, or SARS, in China and risks related to any possible recurrence of SARS or another public health problem in China; competition in NetEase's existing and potential markets; governmental uncertainties (including possible changes in the effective tax rates applicable to NetEase and its subsidiaries and affiliates), general competition and price pressures in the marketplace; the risk that security, reliability and confidentiality concerns may impede broad use of the Internet and e-commerce and other services; the risk that fluctuations in the value of the Renminbi with respect to other currencies could adversely affect NetEase's business and financial results; and other risks outlined in NetEase's filings with the Securities and Exchange Commission. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law.
For more information, please contact:
Brandi Piacente
Investor Relations
Tel: +1-212-481-2050
Email: brandi@corp.netease.com
Olive Wang
NetEase.com, Inc.
Tel: +86-10-8255-8243
Email: owang@corp.netease.com
NetEase.com, Inc.
CONTACT: Brandi Piacente, Investor Relations, +1-212-481-2050, or
brandi@corp.netease.com; or Olive Wang, +86-10-8255-8243, or
owang@corp.netease.com, both for NetEase.com, Inc.
MLHP - State of the Corporation - A Message from the President and Chief Scientific Officer, Dr. Bahige M. Baroudy
2006-12-08 08:30 ET - News Release
MONTREAL, QC and WILMINGTON, DE, Dec. 8 /PRNewswire-FirstCall/ -
Dear Shareholders,
For Millenia Hope , 2006 was a year dedicated to strategic planning to meet new challenges, to show tangible bottom line results and to foster a business environment conducive to the creation of great shareholder value. By examining our inventory of products and assessing the elements necessary to increase shareholder value, we made a firm commitment to diversification and the broadening of our product base. This led to our acquisitions, which we believe will help us fulfill our business plan in the short, medium and long term.
I would like to summarize the activities and events which occurred in the company over the past twelve months and which I feel place our company in an enviable position in the marketplace:
In early 2006, Millenia Hope's subsidiary corp. acquired the assets of a biopharma company, which included patents and patents pending, 5 million dollars (original cost) worth of scientific equipment, nine years of scientific research and development expertise and a library of 160,000 highly purified fractions from 2,200 plant species. Currently operating under the name of Millenia Hope Biopharma (MHB), it is among the top Phytomics Technology companies in the world.
Since the initial acquisition, MHB has concluded a breakthrough contract, with one of the world's largest cosmetic companies, an important Phase I contract, with a billion dollar international pharma (Les Medicaments Pierre Fabre), is in negotiations with eight more corporations and is in the final stages of concluding a multi-million dollar, multi-year contract with an international consumer giant. This strategic move placed MLHP on a new and elevated playing field; ownership of a diverse set of highly sought after products and patents, as an example: a major plant cell culture discovery and development - parthenolide-free feverfew, an ongoing revenue stream generated from some of the global leaders in their fields, top notch research facilities and enhanced scientific expertise leading to new discoveries and additional patents and patent applications. This ramified scientific infrastructure provides us with the opportunity to disseminate our unique technology globally, targeting the cosmetics, neutriceutical and pharmaceutical industries. In the near term we perceive that our specialized expertise will make us the company of choice in these three important market sectors, whose combined annual sales are in the hundreds of billions of dollars.
MHB's new research and development facility is located in the center of Montreal's pharmaceutical industry and provides us with better access to the trained pharmaceutical staff and the additional high quality space needed to expand manufacturing.
The building has 34,000 sq ft of space of which 12,000 sq ft is manufacturing clean space, 2,000 sq ft is laboratory and 10,000 sq ft is office space. We would like to thank the people of Loblaw for their support of biotech companies, a rarity in Quebec.
Millenia Hope Biopharma has filed an SB-2 with the SEC, pursuant to becoming a public reporting company. MHB has also contracted with a national securities firm, Union Securities, to act as the lead underwriter for a $10 million convertible debenture, earning the investor 10% per year. It is envisioned that this, private placement, will be followed by a listing on the TSX and/ or European or overseas exchange and an IPO.
Millenia has put in place a program to treat major infectious diseases that impact global health and is currently developing treatments for Malaria and HIV/AIDS, two major diseases that continue to be a global challenge as resistance to existing drugs mounts.
Heenan Blaikie, a prestigious Canadian law firm, led in this undertaking by the Rt. Honourable, former Prime Minister of Canada Jean Chretien, a senior - Heenan partner, has teamed up with Millenia Hope in its crusade against malaria. Via their diligent efforts, Millenia is working on forging joint ventures to build manufacturing facilities and distribution centers, for its anti-malaria drug, MalarexMMH(TM)18, in 2 African countries. As a result of this crusade, Millenia has signed an MOU with Suninvest of Angola as a partner for this facility. These contracts will be signed directly with the governments of those countries and represent a major milestone in Millenia's quest to alleviate the human suffering and devastation caused by malaria in Africa and other regions of the world.
Millenia signed an agreement with the Pasteur Institute of Cote D'Ivoire, who will act in an oversight and regulatory capacity in Cote D'Ivoire. The overall objective is the eventual eradication of infectious diseases, initially focusing on Malaria and HIV.
We have also expanded our horizons to the East (China) by signing, with HolleyPharm Group, a Memorandum of Understanding to collaborate on the development of a series of new plant-based products, for the pharmaceutical and herbal markets, using the resources of the two companies.
Thank you for your ongoing financial support and patience. On behalf of my colleagues, at Millenia Hope, let me wish all of you a Happy Holiday Season!
Safe Harbor Statement:
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts and expectations of Millenia Hope that may be referred to as "forward-looking statements." Several important factors could cause actual results to differ materially from those in such forward-looking statements, and Millenia Hope could encounter unanticipated obstacles and delays in developing products, services and markets.
MILLENIA HOPE BIOPHARMA
CONTACT: Dr Bahige Baroudy, (514) 288-8822, bahigebaroudy@milleniahope.com
CHCG - China 3C Group Signs Sales Agent Agreement With Fourth Largest Home Appliance Manufacturer Haier
2006-12-08 08:00 ET - News Release
ZHEJIANG PROVINCE, China, Dec. 7 /PRNewswire/ -- China 3C Group , a major retailer and distributor of consumer and business products, announced today that its subsidiary Hangzhou Sanhe Electronic Technology has signed a sales agent agreement with Shanghai Haier Trade and Industry Company Limited, a wholly-owned subsidiary of Haier Group. Under the terms of the agreement, Hangzhou Sanhe will be an authorized sales agent of Haier products in Shanghai.
China 3C CEO Zhenggang Wang said, "We are now selling Haier's refrigerators, TV, home theaters, laptops, microwave ovens and many other products in Shanghai. This agreement expands our product offerings to existing and potential customers. These new products are expected to provide China 3C Group with annual revenues of approximately $2.5 million in 2007."
About Haier
Haier Group is the fourth largest white goods home appliance manufacturers in the world and the most valuable brand in China. Founded in 1984, Haier products are sold in more than 100 countries. Haier has 240 subsidiaries and more than 50,000 employees throughout the world. Haier's focused industries include technology research, manufacturing, trade and financial services. The global revenue of Haier for 2005 was U.S. $13.2 billion. Haier Electronics Group Co., Ltd. (HKG: 1169), a subsidiary of Haier Group, is listed on the Main Board of the Stock Exchange of Hong Kong. Qingdao Haier Co., Ltd. (SHA: 600690), also a Haier subsidiary, is listed on the Shanghai Stock Exchange. For more information, visit http://www.haier.com.
About China 3C Group
China 3C Group is a leading retail chain operating over 800 retail outlets in Eastern China. The company specializes in selling 3C products (communication, information technology and digital) in China through its subsidiary Zhejiang Yong Xin Digital Technology Co., Ltd. Among China 3C's primary attributes is its efficient distribution network and rapid logistics system. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com.
A profile for investors can be accessed at http://www.hawkassociates.com/chcgprofile.aspx. For investor relations information regarding China 3C, contact Jason Yuan at (201) 963-4226, e-mail: jasonyuan@china3Cgroup.com, or Frank Hawkins or Ken AuYeung, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
Forward-looking Statement: We have included and from time to time may make in our public filings, press releases or other public statements, certain statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" and similar expressions. You are cautioned not to place undue reliance on these forward-looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control.
China 3C Group
CONTACT: Investor, Frank N. Hawkins, Jr. or Ken AuYeung, +1-305-451-1888,
or info@hawkassociates.com, both of Hawk Associates
Web site: http://www.China3CGroup.com/
http://www.hawkassociates.com/
http://www.americanmicrocaps.com/
http://www.hawkassociates.com/chcgprofile.aspx/
Very Nice.
I have DRGG on my stock list. See if the bottom line will improve.
Today's Fortune:
"The early worm gets the bird."
Just checked it out. Probably pass on it. The balance sheet and revenues are impressive but the net income before taxes is horrible. 2.8%?
Mainly following China Natural Gas (CHNG) and China Shuangji Cement (CSGJ). These commodities rocks. No pun intended.
Like most of us we can't manage to buy CSGJ!
Just checked it out. Probably pass on it. The balance sheet and revenues are impressive but the net income before taxes is horrible. 2.8%?
Mainly following China Natural Gas (CHNG) and China Shuangji Cement (CSGJ). These commodities rocks. No pun intended.
Like most of us we can't manage to buy CSGJ!
UTSI - UTStarcom's RollingStream(TM) Named Best IPTV Solution at ITU Telecom World 2006
2006-12-07 21:19 ET - News Release
ITU TELECOM WORLD 2006, HONG KONG, Dec. 7 /PRNewswire-FirstCall/ -- UTStarcom, Inc. , a global leader in IP-based, end-to-end networking solutions and services, today announced that Communications Weekly, a leading publication under the guidance of the Ministry of Information Industry (MII) in China, named UTStarcom's RollingStream(TM) end-to-end IPTV solution the best IPTV solution worldwide at ITU WORLD 2006 in Hong Kong this week. UTStarcom was also awarded the Development Contribution Award for its collaboration on developing IPTV standards with the MII in China.
(Logo: http://www.newscom.com/cgi-bin/prnh/20051013/SFTH063LOGO
"We are honored by the recognition bestowed upon us by Communications Weekly for our RollingStream IPTV solution and our efforts to standardize IPTV technology for China," said Hong Lu, president and chief executive officer at UTStarcom, Inc. "With more than 80 percent of all commercial IPTV subscribers in China currently on UTStarcom's RollingStream system, we believe UTStarcom holds a strong leadership position in the IPTV market in China and is well- positioned for future growth."
Additionally, UTStarcom also received the Most Creative Booth award at ITU Telecom World 2006 by Communication World Magazine in China.
About UTStarcom's RollingStream
UTStarcom's RollingStream(TM) is an end-to-end solution designed for telecommunications operators and broadband service providers to deliver broadcast quality TV and on-demand entertainment programming over IP networks. RollingStream is designed to offer service providers the scalability, reliability, and bandwidth efficiency to support new services including broadcast TV, Network PVR (n-PVR), Video on Demand (VoD), and Near Video on Demand (NVoD) over existing network infrastructures, which may result in opportunities for increased revenues, new services, and improved customer satisfaction and retention.
For more information about UTStarcom's RollingStream solution, please visit: http://www.utstar.com/Solutions/Broadband/IPTV .
About UTStarcom, Inc.
UTStarcom is a global leader in IP-based, end-to-end networking solutions and international service and support. The company sells its broadband, wireless, and handset solutions to operators in both emerging and established telecommunications markets around the world. UTStarcom enables its customers to rapidly deploy revenue-generating access services using their existing infrastructure, while providing a migration path to cost-efficient, end-to-end IP networks. Founded in 1991 and headquartered in Alameda, California, the company has research and design operations in the United States, Canada, China, Korea and India. UTStarcom is a FORTUNE 1000 company.
For more information about UTStarcom, visit the company's Web site at www.utstar.com.
Forward-Looking Statements
This release includes forward-looking statements, including the foregoing statements regarding the anticipated future growth potential for the Company in the China IPTV market, and the expectations regarding the functionality and performance of RollingStream and benefits thereof to service providers. These statements are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. These risk factors include rapidly changing technology, the changing nature of global telecommunications markets, the termination of contracts and/or strategic relationships, the direction and results of future research and development efforts, evolving product and applications standards, reduction or delays in system deployments, product transitions, potential non-realization of backlog, changes in demand for and acceptance of the Company's products, both in China and globally, general adverse economic conditions, and trends and uncertainties such as changes in government regulation and licensing requirements, both in China and globally. The Company also refers readers to the risk factors identified in its latest Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as filed with the Securities and Exchange Commission.
UTStarcom, Inc.
CONTACT: Andy Tennille, Senior Manager, Public Relations of UTStarcom,
Inc., +1-510-814-4421, or andy.tennille@utstar.com
Web site: http://www.utstar.com/
DRGG - Dragon International Receives Purchase Order of Approximately $1.92 Million From Hangzhou Xihu Printing Industry Company
2006-12-07 08:00 ET - News Release
NINGBO, CHINA -- (MARKET WIRE) -- 12/07/06
Dragon International Group Corp. (OTCBB: DRGG), one of China's manufacturers and distributors of specialty paper products and packaging materials, announced today its wholly owned subsidiary, Jiangdong Yonglongxin Special Paper Company, Limited ("Yonglongxin") has received a purchase order from Hangzhou Xihu Printing Industry Co., Ltd ("Hangzhou Xihu") Under the terms of the purchase order, Yonglongxin will supply 8,000 big boxes per month that will consume approximately 200 metric tons of board paper per month. The value of this purchase order is approximately $1.92 million for the next 12 months.
Mr. David Wu, CEO and Chairman of Dragon International Group Corp., stated, "We are very pleased with receiving this purchase order. Hungzhou Xihu is one of premier printing companies for several cigarette manufacturers in China. We have been working with this company for a while and we have been receiving small purchase orders from this company from time to time. Finally, we received a big purchase order that shows our products have been competing well in the market place. We expect to receive more orders in the near future."
About Dragon International Group Corporation
Dragon International Group Corp. (OTCBB: DRGG) is one of China's manufacturers and distributors of specialty paper products and packaging materials. DRGG is operating as a manufacturer and distributor of paper and integrated packaging paper products. DRGG has a distribution network covering east and central China. Dragon and its subsidiaries have cultivated strategic relationships with several of the world's largest and well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements, including the Company's ability to obtain sufficient financing to fund both its internal growth opportunities and acquisition strategy. More information about the potential risks and factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission at http://www.sec.gov.
Contact:
1-877-CHINA-57
Email: info@drgg.net
FEEC - Far East Energy Says Glass Lewis Report Recommends Stockholders Withhold Votes from the Election of Tim Whyte and Two Other Dissident Nominees
2006-12-07 20:07 ET - News Release
HOUSTON, Dec. 7 /PRNewswire-FirstCall/ -- Far East Energy Corporation said today that Glass Lewis recommends that stockholders withhold votes from the election of Tim Whyte, the Sofaer Group's current representative on the Board, and two other dissident nominees at the upcoming meeting of stockholders to be held December 15, 2006.
Glass Lewis & Co., one of the world's leading proxy advisory firms, said in its report today, in part:
"We note that the drilling prospects of Far East and the ability of the Company's operational team are not in question. Sofaer believes that there are substantial growth opportunities for the Company and that Far East's management team has the right experience to execute on such a plan."
" ... We find Sofaer's plan to contain only broad generalizations and to be particularly thin on detail ... We question Sofaer's new found religion and wonder why the Dissident did not seek such changes when it first took a seat on the board of Far East in 2005."
"Given these considerations we are hard pressed to believe that the Dissident's deserve control of the board of directors ... Its share price has not underperformed its peers."
"Notably, Sofaer participated in all but the latest share issuance. It is also noteworthy that the board completed the recent issuances at a minimal discount to the fair market value. Large block share placements are typically priced with a moderate discount."
"Once again a leading proxy advisory firm has explicitly stated that the dissident nominees do not deserve control of the board of directors," said Michael R. McElwrath, President and Chief Executive Officer. "We are disappointed that the management slate was not endorsed, but most importantly Glass Lewis has said that it believes that incumbent management should be given the benefit of the doubt regarding its strategic business decisions and that the dissidents do not deserve control of the board of directors."
"Although Glass Lewis did correctly note that our share price has fared better than that of our peers during the recent downturn in energy related industries, our board and management are committed to creating greater stockholder value in the future," said McElwrath.
Far East Energy Corporation stockholders should sign, date and return the WHITE proxy card FOR Far East Energy Corporation's nominees at the upcoming Annual Meeting of Stockholders on December 15, 2006. If you have any questions, or would like assistance in voting your shares, please contact the company that is helping us with this most important election, Innisfree M&A Incorporated, at 1.877.456.3442 or for international calls + 412.232.3651.
Far East Energy Corporation encourages all stockholders to visit their Web site www.VoteFarEastEnergy.com to learn more about Far East Energy Corporation's nominees and their plan to build stockholder value.
About Far East Energy
Based in Houston, Texas, with offices in Beijing, Kunming, and Taiyuan City, China, Far East Energy Corporation is focused on the acquisition of, and exploration for, coalbed methane in China through its agreements with ConocoPhillips and China United Coalbed Methane Corp. Ltd. (CUCBM).
Statements contained in this press release that state the intentions, hopes, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties.
Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content, and commercial viability of the wells; risk and uncertainties associated with exploration, development and production of oil and gas; drilling and production risks; our lack of operating history; limited and potentially inadequate cash resources; expropriation and other risks associated with foreign operations; anticipated pipeline construction and transportation of gas; matters affecting the oil and gas industry generally; lack of availability of oil and gas field goods and services; environmental risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports filed on Form 10-Q, and subsequent filings with the Securities and Exchange Commission.
Far East Energy Corporation
CONTACT: Bill Conboy, Vice President of CTA Integrated Communications for
Far East Energy Corporation, +1-303-665-4200, Bill@ctaintegrated.com
Web site: http://www.VoteFarEastEnergy.com//
Emerging-Market Stocks Rally to Record on Commodities (Update1)
By Michael Tsang
Dec. 5 (Bloomberg) -- Emerging-market stocks rose to an all-time high after faster economic growth, a boom in commodities demand and the prospect of lower U.S. interest rates spurred investment in developing countries from Asia to Latin America.
Benchmarks in Russia, India and Indonesia climbed to records and the so-called H share index of Hong Kong-listed Chinese stocks also set an all-time high. OAO Gazprom, the world's largest natural gas producer, and China Mobile Ltd., the biggest mobile-phone company by users, led the rally.
The Morgan Stanley Capital International Emerging Markets Index, which tracks 25 developing markets, added 1 percent to 888.39. The advance helped the measure eclipse its record of 881.52 reached on May 8.
The index has recovered all its losses since plummeting 25 percent from the record through June 13 as investors regained confidence in the growth potential of developing markets.
``This is where you have to be in the long term,'' said Cliff Quisenberry, who runs the $683 million Eaton Vance Tax- Managed Emerging Markets Fund. The climb in the emerging markets index since its June 13 low is almost double the 18 percent advance in the MSCI index for developed markets.
Expansions in China and India, the world's two fastest- growing major economies, have underpinned demand from commodity producers such as Russia and Brazil. Faster economic growth from exports and investment has also bolstered spending on homes, cell-phones and cars as incomes increase.
Latin America Leads
The Latin American index has jumped the most of any region in the period, climbing 45 percent, led by Brazil and Mexico, its two biggest markets by value. Gains in the region accelerated after voters re-elected President Luiz Inacio Lula da Silva in Brazil and chose Felipe Calderon, who supported free trade and limits on government spending, to lead Mexico.
The MSCI measure for eastern Europe, Africa and the Middle East, or EMEA, has gained 31 percent, while the index for emerging markets in Asia also climbed 31 percent.
Investors have taken renewed interest. Funds that invest in shares of developing countries have garnered more money than they have lost for eight straight weeks, according to Emerging Portfolio Fund Research, a Boston-based fund research company.
The buying spree has brought the total to $19.3 billion for the year, on a net basis. Net inflows to emerging-market stock funds had reached $32.9 billion before the sell-off between May and June caused investors to pull out as much as $18 billion.
The 25 percent drop in 26 days in the MSCI emerging markets index in May and June was precipitated by concern higher interest rates worldwide would lessen the appeal of riskier assets.
Russian Record
Today, Russia's dollar-denominated RTS Index gained 1.7 percent to 1821.33, setting a record for a fourth day. The index, which gets more than half of its value from energy companies, has surged 45 percent since July 13 and 62 percent this year.
Gazprom gained 1.3 percent. OAO Surgutneftegaz, Russia's fourth-largest oil company, jumped 6.9 percent to $1.485.
Crude-oil futures for January delivery yesterday touched $63.82 yesterday, the highest since Sept. 28. Russia, the world's second-largest oil supplier, after Saudi Arabia, relies on oil and gas sales for about 75 percent of its export revenue.
Higher prices for metals boosted shares of Brazil's Cia. Vale do Rio Doce, the world's second-largest mining company. The stock rose 3.5 percent to 54.1 reais.
Nickel rose to the highest in 19 years in London, lead climbed to a record and aluminum increased to a six-month high. Copper advanced to a three-week high in New York.
Buying Spree
Commodity exports have boosted tax revenue in Brazil, helping it pay down $16 billion of foreign currency debt and lifted international reserves to a record $83 billion.
Net buying in Latin American stock funds equaled for 24 percent of their total assets this year, the highest percentage of any emerging market region, according to Brad Durham, a managing director at Emerging Portfolio Fund Research.
The inflows have helped to lift Brazil's Bovespa index 39 percent this year, in dollar terms.
Gains in China have been among the best in emerging markets this year, as the market didn't fall as much during the global sell-off. The Hang Seng China Enterprises Index, which tracks the H shares of Hong Kong-listed mainland companies, has surged 64 percent in dollar terms and today closed at 8758.17, the highest since its introduction in August 1994.
The Shanghai and Shenzhen 300 Index, which tracks yuan- denominated A shares listed on China's two exchanges that most foreign investors are restricted from buying, is up 94 percent.
China's economy, the world's fourth largest, may expand as much as 10.7 percent in 2006, the government said. October retail sales jumped at the fastest pace in almost two years.
Yuan, Share Sales
Share sales have made Chinese companies more accessible to overseas investors. In October, Industrial & Commercial Bank of China Ltd. raised $19.1 billion in the world's biggest initial public offering, attracting orders equal to twice Citigroup Inc.'s market value.
Today, China Mobile gained 0.7 percent to HK$63.75. The yuan rose 0.07 percent to 7.8220 against the dollar, the strongest close since China ended a fixed exchange rate last year. Hong Kong's currency is pegged to the dollar.
A strengthening Chinese currency boosts returns on yuan- related assets for dollar-based investors and lowers the cost of dollar-denominated debt and expenses for Chinese companies.
The market is well-supported ``mainly due to the yuan factor,'' said Teresa Chow, who helps manage $500 million at RBC Investment Management Asia in Hong Kong.
China Telecom Corp., the nation's biggest fixed-line telephone company, surged 16 percent to a record HK$4.01 after a company official said the government will soon issue licenses for high-speed third-generation wireless networks.
Still Cheap?
Growth prospects in developing countries help to bolster profit expectations. Companies in the MSCI emerging markets are valued at 14.8 times estimated earnings, compared with 15.7 times for shares in developed markets.
In India, the Bombay Stock Exchange's Sensitive Index, or Sensex, has climbed 53 percent since June 13. It rose 0.5 percent to close at an all-time high of 13,937.65 today.
Infosys Technologies Ltd., India's second-biggest software company, gained 1.5 percent to 2,239.05 rupees. Reliance Industries Ltd., the country's biggest non-state run company, added 1.6 percent to 1279.55 rupees. In October, both companies reported quarterly profits that beat analysts' estimates.
India's $775 billion economy grew 9.2 percent in the third quarter, beating economists' estimates.
Growth has been bolstered by the fastest wage increases in Asia last year resulting in the nation's biggest expansion in the services industry in more than two years.
``The economy is chugging along very well,'' said Soumendra Nath Lahiri, who helps manage about $2 billion in Indian equities at DSP Merrill Lynch Fund Managers Ltd. in Mumbai.
To contact the reporter on this story: Michael Tsang in New York at mtsang1@bloomberg.net .
Last Updated: December 5, 2006 21:26 EST
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PFCB - P.F. Chang's Board Adopts Majority Vote Standard for Election of Directors
2006-12-07 16:43 ET - News Release
SCOTTSDALE, Ariz. -- (Business Wire)
P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) announced today that its board of directors has amended and restated the company's bylaws to provide for a majority voting standard for the election of directors in uncontested elections. For a director to be elected using a majority voting standard, that director must receive more “for” votes than “against” votes. In contested elections (where there are more nominees than directors to be elected), the company will continue to use the plurality standard, where the directors receiving the most votes win regardless of whether those votes constitute a majority of the shares voting in the election.
The adoption of this new standard is an effort by the company to be responsive to the current debate on majority voting in corporate America.
Under the laws of Delaware, P.F. Chang’s state of incorporation, if an incumbent director is not elected, that director continues to serve as a “holdover director” until the director’s successor is duly elected and qualified, even if there are more votes cast “against” than “for” the director. As a result, the board of directors has also adopted a provision in the bylaws that requires an incumbent director who does not receive more “for” votes than “against” votes in an election to offer his or her resignation to the board. The Nominating and Corporate Governance Committee would then make a recommendation to the board of directors on whether to accept or reject the resignation. The board will publicly disclose its decision and the rationale behind it within 90 days of the certification of the election results.
Additional information on P.F. Chang’s board of directors and corporate governance guidelines are available at www.pfcb.com.
P.F. Chang’s China Bistro, Inc. owns and operates three restaurant concepts in the Asian niche. P.F. Chang’s China Bistro features a blend of high-quality, traditional Chinese cuisine and American hospitality in a sophisticated, contemporary bistro setting. Pei Wei Asian Diner offers a modest menu of freshly prepared Asian cuisine in a relaxed, warm environment offering attentive counter service and take-out flexibility. Taneko Japanese Tavern opened on October 2, 2006 and features natural, organic and seasonal ingredients highlighting the diverse cooking styles of Japan.
Contacts:
P.F. Chang's China Bistro, Inc., Scottsdale
Laura Cherry, 480-888-3000 (Media)
laura.cherry@pfcb.com
Mark Mumford, 480-888-3000 (Investor)
mark.mumford@pfcb.com
Source: P.F. Chang's China Bistro, Inc.
CHCG - China 3C Group Signs Sales Agent Agreement With Fourth Largest Home Appliance Manufacturer Haier
2006-12-07 16:30 ET - News Release
ZHEJIANG PROVINCE, China, Dec. 7 /PRNewswire/ -- China 3C Group , a major retailer and distributor of consumer and business products, announced today that its subsidiary Hangzhou Sanhe Electronic Technology has signed a sales agent agreement with Shanghai Haier Trade and Industry Company Limited, a wholly-owned subsidiary of Haier Group. Under the terms of the agreement, Hangzhou Sanhe will be an authorized sales agent of Haier products in Shanghai.
China 3C CEO Zhenggang Wang said, "We are now selling Haier's refrigerators, TV, home theaters, laptops, microwave ovens and many other products in Shanghai. This agreement expands our product offerings to existing and potential customers. These new products are expected to provide China 3C Group with annual revenues of approximately $2.5 million in 2007."
About Haier
Haier Group is the fourth largest white goods home appliance manufacturers in the world and the most valuable brand in China. Founded in 1984, Haier products are sold in more than 100 countries. Haier has 240 subsidiaries and more than 50,000 employees throughout the world. Haier's focused industries include technology research, manufacturing, trade and financial services. The global revenue of Haier for 2005 was U.S. $13.2 billion. Haier Electronics Group Co., Ltd. (HKG: 1169), a subsidiary of Haier Group, is listed on the Main Board of the Stock Exchange of Hong Kong. Qingdao Haier Co., Ltd. (SHA: 600690), also a Haier subsidiary, is listed on the Shanghai Stock Exchange. For more information, visit http://www.haier.com.
About China 3C Group
China 3C Group is a leading retail chain operating over 800 retail outlets in Eastern China. The company specializes in selling 3C products (communication, information technology and digital) in China through its subsidiary Zhejiang Yong Xin Digital Technology Co., Ltd. Among China 3C's primary attributes is its efficient distribution network and rapid logistics system. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com.
A profile for investors can be accessed at http://www.hawkassociates.com/chcgprofile.aspx. For investor relations information regarding China 3C, contact Jason Yuan at (201) 963-4226, e-mail: jasonyuan@china3Cgroup.com, or Frank Hawkins or Ken AuYeung, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com. An online investor kit including press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com.
Forward-looking Statement: We have included and from time to time may make in our public filings, press releases or other public statements, certain statements, including, without limitation, those under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7. In some cases these statements are identifiable through the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "target," "can," "could," "may," "should," "will," "would" and similar expressions. You are cautioned not to place undue reliance on these forward-looking statements. In addition, our management may make forward-looking statements to analysts, investors, representatives of the media and others. These forward-looking statements are not historical facts and represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and beyond our control.
China 3C Group
CONTACT: Investor, Frank N. Hawkins, Jr. or Ken AuYeung, +1-305-451-1888,
or info@hawkassociates.com, both of Hawk Associates
Web site: http://www.China3CGroup.com/
http://www.hawkassociates.com/
http://www.americanmicrocaps.com/
http://www.hawkassociates.com/chcgprofile.aspx/
FEEC - Sofaer Capital Pleased With Support From ISS and Glass Lewis
2006-12-07 16:08 ET - News Release
LONDON, Dec. 7 /PRNewswire/ -- Sofaer Capital, Inc. today announced that the country's leading independent proxy advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis and Co. ("Glass Lewis"), each recommended that stockholders of Far East Energy Corporation, Inc. vote using the GOLD proxy card.
ISS recognized that " ... the dissident has demonstrated that change is needed based on the company's stock performance ..." and the Glass Lewis report also stated, "We are troubled with certain other actions, or inactions by the board of Far East." Commenting on the ISS and Glass Lewis recommendations, Sofaer Nominee and current Far East Board member Tim Whyte stated, "We are pleased that both Glass Lewis and ISS both recommended to vote using the GOLD proxy card and not to vote on Management's proxy card, but are disappointed that they did not recommend for our full slate. If elected we fully intend to work with our fellow board members to improve corporate governance, financial controls, budgeting and to maximize stockholder value for all stockholders."
Far East stockholders are reminded that their vote is extremely important, no matter how many or how few shares they own. Because the annual meeting is only days away, we urge Far East stockholders to vote their shares today by phone or internet by following the instructions on the GOLD proxy card. Only the latest proxy counts, so even if stockholders have already sent in a proxy to Far East, they have every right to change their vote and support Sofaer Capital's nominees with the GOLD proxy card. We urge all stockholders to exercise their right to vote and vote the GOLD proxy today.
Stockholders who have questions about the Sofaer Nominees and how to vote your GOLD proxy card are encouraged to call MacKenzie Partners, Inc., Toll-Free at 800-322-2885 or 212-929-5500 (call collect) or +44-207-170-4155.
* Permission to use quotations from the ISS report and the Glass Lewis report was neither sought nor obtained.
Sofaer Capital, Inc.
CONTACT: Dan Sullivan of MacKenzie Partners, Inc., +1-212-929-5500, for
Sofaer Capital, Inc.
PACT - PacificNet, Inc. to Hold Annual Stockholders Meeting on December 15, 2006
2006-12-07 14:49 ET - News Release
BEIJING, Dec. 7 /Xinhua-PRNewswire/ -- PacificNet, Inc. , a leading provider of Customer Relationship Management (CRM), mobile internet, e-commerce and gaming technology in China, today announced that it will hold its annual stockholders meeting at 1:00 pm (Beijing time) in Beijing, China on December 15, 2006. The meeting will be held at the company's executive offices located at Room 2309, Building A, TimeCourt, No. 6 Shuguang Xili, Chaoyang District, Beijing, China 10028, for the following purposes:
1. To elect seven (7) directors to the Board of Directors of the Company
to serve until the next annual meeting of stockholders and until their
successors are duly elected and qualified.
2. To ratify the appointment of Clancy and Co., P.L.L.C., as the Company's
independent auditors.
3. To consider and act upon a proposal to amend the Company's 2005 Stock
Option Plan.
4. To transact any other business as may properly be presented at the
Annual Meeting or any adjournment or postponement thereof.
Victor Tong, President of PacificNet said: "We welcome all PACT shareholders to come to the PACT China Headquarters in BJ, meet the management in person, and review our business on Dec 15, AGM day. This would be a good opportunity for our shareholders to meet the management and to see our operations in China first hand. We'd like to remind all shareholders to please cast their votes prior to the AGM date to ensure that their votes will be counted in time."
A complete copy of the AGM Proxy 14A can be reviewed at the SEC.gov web site at: http://www.sec.gov/Archives/edgar/data/815017/000101968706002578/pact_defr14a-120406.htm
About PacificNet
PacificNet, Inc. (http://www.PacificNet.com) is a leading provider of Customer Relationship Management (CRM), mobile internet, e-commerce and gaming technology in China. PacificNet's clients include the leading telecom companies, banks, insurance, travel, marketing, and business services companies, and telecom consumers, in Greater China. PacificNet's corporate clients include China Telecom, China Mobile, Unicom, PCCW, Hutchison Telecom, Bell24, Motorola, Nokia, SONY, TCL, Huawei, American Express, Citibank, HSBC, Bank of China, Bank of East Asia, DBS, TNT, and Hong Kong Government. PacificNet employs over 1400 staff in its various subsidiaries throughout China with offices in Hong Kong, Beijing, Shenzhen, Guangzhou, Macau, and branch offices in 28 provinces in China and is headquartered in Beijing and Hong Kong.
PacificNet Games Limited (PacGames), is a leading provider of Asian multi- player electronic gaming machines, gaming technology solutions, gaming related maintenance, IT and distribution services for the leading hotel, casino and slot hall operators based in Macau, China and other Asian gaming markets. PacGames is a leading developer of electronic versions of popular table games which are less expensive to run resulting in higher casino profits with great appeal to the mass market players. The growing market in Macau is for Asian table games such as Baccarat, Roulette, Fan Tan, Fish-Prawn-Crab and Sic-Bo Cussec as these games have wider acceptance in the Asian market than Western games such as poker or slots. We believe that the development, manufacturing, maintenance, and service of electronic Asian table games are underserved areas which are predicted to grow considerably as Macau's gaming market matures. PacGames products include multi-play electronic gaming machines such as Baccarat, Fish-Prawn-Crab, Sib-Bo Cussec, Roulette, and Video Lottery Terminals (VLT) such as Keno and Bingo, as well as other traditional slot machines.
PacificNet's operations can be classified into the following four main business units:
(1) Outsourcing Services - involves human voice services such as Business Process Outsourcing, CRM, call center, IT Outsourcing and software development services. These types of services are conducted through our subsidiaries EPRO, Smartime/Soluteck and PacificNet Solution Ltd.
(2) Telecom Value-Added Services (VAS) - primarily involves machine voice services such as Interactive Voice Response, SMS and related VAS, which are conducted through our subsidiaries such as Linkhead, Clickcom, MOABC and Guangzhou 3G.
(3) Products (Telecom & Gaming) - primarily involves communication and gaming products, GSM/CDMA/3G Products, Multimedia Communication Kiosks. This Group includes the following subsidiaries: PacificNet Communications Limited, iMobile, Take1 and PacificNet Games.
(4) Other Business -other administrative, financial and investment services and non-core businesses such as PacificNet Power Limited (PacPower), Pacific Financial Services Limited, etc.
Safe Harbor Statement
This Company's announcement contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the SEC on Forms 10-K, 10-Q, 8-K, etc., in our annual report to shareholders, in our proxy statements, in press releases and other written materials and in oral statements made by our officers, directors or employees to third parties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, PacificNet's historical and possible future losses, limited operating history, uncertain regulatory landscape in China, and fluctuations in quarterly and annual operating results. Further information regarding these and other risks is included in PacificNet's Form 10K and other filings with the SEC.
Contact:
PacificNet USA office: Jacob Lakhany, Tel: +1-605-229-6678
PacificNet Beijing office: Ada Yu, Tel: +86 (10) 59225000
investor@pacificnet.com
PacificNet, Inc.
CONTACT: PacificNet USA office, Jacob Lakhany, +1-605-229-6678; PacificNet
Beijing office, Ada Yu, +86-(10)-59225000, investor@pacificnet.com
Web site: http://www.PacificNet.com/
PFCB - P.F. Chang's China Bistro, Inc. Appoints Chief Marketing Officer
2006-12-07 13:49 ET - News Release
SCOTTSDALE, Ariz. -- (Business Wire)
P.F. Chang’s China Bistro, Inc. (NASDAQ: PFCB) announced today the appointment of Tim McDougall as Chief Marketing Officer.
As Chief Marketing Officer, Mr. McDougall will be responsible for developing a comprehensive brand strategy for the company’s three restaurant concepts, P.F. Chang’s China Bistro, Pei Wei Asian Diner and Taneko Japanese Tavern.
“We have built very strong and positive brand images for P.F. Chang’s and Pei Wei,” said Rick Federico, Chairman and CEO. “As our brands continue to grow, we are fortunate to have Tim join our Sr. Management team and add his leadership and expertise to enhance the strategic development of our branding and marketing initiatives.”
Mr. McDougall comes to PFCB, Inc. with an extensive background in sports marketing and consumer products and packaging. Most recently Mr. McDougall was a Vice President of the Austin based advertising agency GSD&M, where he was responsible for managing the Frito-Lay account and directing the agency’s activities including creative development, strategic development and consumer research.
Previously Mr. McDougall held key positions with both the New Orleans Hornets and the Houston Rockets. As Chief Marketing Officer for the Hornets and Vice President of Marketing for the Houston Rockets, Mr. McDougall was responsible for all marketing related functions (advertising, promotions, public relations, broadcasting, events and community relations) as well as ticket sales and customer services for the Hornets. The marketing and sales initiatives launched during his tenure with both teams contributed to significant improvements in both revenues and brand equity.
Prior to his work with the Rockets, Mr. McDougall worked for seven years in brand management for Miller Brewing Company where he held several brand marketing positions. Most recently he served as senior brand manager for Miller Lite, where he was responsible for all brand management activities nationally.
Mr. McDougall earned his bachelor’s and MBA degrees from the University of Texas.
Contacts:
P.F. Chang’s China Bistro, Inc., Scottsdale
Laura Cherry, 480-888-3212 or 602-725-6365 (cell)
Source: P.F. Chang's China Bistro, Inc.
MLHP - Union Securities to Act as Lead Underwriter for the Millenia Hope Biopharma Financing
2006-12-07 12:32 ET - News Release
MONTREAL, QC, and WILMINGTON, DE, Dec. 7 /PRNewswire-FirstCall/ - Millenia Hope Biopharma Inc. is pleased to announce today that its affiliated company, Millenia Hope Biopharma (MHB), has concluded an agreement to retain Union Securities Ltd, a national securities firm, to act as its sponsor and underwriter for the following: A 10 million convertible debenture, interest rate of 10% per annum, and including assisting MHB with a public listing on the TSX.
ABOUT MILLENIA HOPE INC & MILLENIA HOPE BIOPHARMA:
The company has put in place programs to fight major infectious diseases and promote healthier lives and is committed to research and development to deliver on global medical needs and to bring hope through healthcare solutions. Founded in 1997 the company has initially focussed on the need to bring safe and affordable herbal therapies to market for major third world diseases such as malaria and HIV. The first product in this series is MMH(TM)Malarex / MMH(TM)18,. Millenia is also pursuing inhibitors of HIV RNase H (patent application pending). Successful development of a drug that targets HIV RNase H will play an important role in the treatment of HIV/AIDS patients who have become resistant to current therapy. www.milleniahope.com
Millenia Hope Biopharma (MHB) a related company to MHI, founded in 1998, is the world's leading bioresearch firm in Phytomics Technologies, commercializing plant cell-based bioprocesses for the discovery, development and production of natural and novel plant-derived products for the pharmaceutical, cosmetic and nutraceutical industries. MHB has spent over US $25 million in developing its unique proprietary Phytomics Technologies, including the world's largest collection of highly purified phytochemical fractions to be utilized in the pharmaceutical, cosmetic and nutraceutical industry. MHB also provides a plant based drug discovery platform designed for High Throughput Screening and is currently working with a number of leading multinational corporations such as Pierre Fabre Medicaments. www.mh-b.com
SAFE HARBOR STATEMENTS:
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts, and expectations of Holley Pharmaceuticals Company Inc. that may be referred to as "forward- looking statements." Several important factors could cause actual results to differ materially from those in such forward-looking statements and Holley Pharmaceuticals Company Inc. could encounter unanticipated obstacles and delays in developing products, services and markets.
MILLENIA HOPE BIOPHARMA
CONTACT: Mr Leonard Stella, CEO, Millenia Hope Inc., (514) 846-5757,
leostella@milleniahope.com
TNRO - Terra Nostra Announces Appointment of President and CEO
2006-12-07 11:09 ET - News Release
LOS ANGELES, Dec. 7 /PRNewswire-FirstCall/ -- The Board of Directors of Terra Nostra Resources Corporation , www.tnr-corp.com, is very pleased to announce the recent appointment of Mr. Donald Nicholson as President and Chief Executive Officer of Terra Nostra, as well as Mr. Nicholson's acceptance to join the Board of Directors.
Mr. Nicholson, P Eng, has held top-level management positions at a number of public and private companies in diverse industries including construction, engineering, ship building, and energy development. His global experiences as a senior executive have included, among others, President and CEO of Yarrows Limited, Executive Vice-President and COO of Wright Engineers Ltd., Senior VP of Commonwealth Construction Ltd, President and CEO of Comstock International Ltd., Vice President of SNC Group, and Vice President of Atomic Energy of Canada Ltd.
Bringing to Terra Nostra a wealth of experience, Mr. Nicholson comments that he is "honored to have the opportunity to take on a leadership role in building upon the strong foundation already established by the Company, and guiding Terra Nostra through the next levels of growth and development." Mr. Nicholson adds "It is truly exciting to become involved with a company that is ideally positioned to prosper from the highly dynamic strategic metals industry, in economically burgeoning China."
About Terra Nostra Resources Corporation
Terra Nostra owns a 51% interest in Shandong Quanxin Stainless Steel Co. Ltd., a state-of-the-art stainless steel production facility that commenced operations in 2006 with the startup of a 180,000 MT casting mill. A 150,000 MT strip rolling line is presently undergoing trial production runs. The Company is also emerging as a leading copper producer in China through its 51% interest in Shandong Terra Nostra Jinpeng Metallurgical Co. Ltd., having existing and under construction production capacity of 170,000 MT of electrolytic copper, as well as value-added copper rods and wire. Both joint venture companies are located in the highly industrialized coastal Province of Shandong, China. More information on the company can be found at www.tnr-corp.com.
Investor Relations: 1-866-626-0088
Forward Looking Statements
Except for the historical information contained herein, the matters set forth in this press release, including statements with respect to expectations concerning (i) projects underway or under consideration, including production capacity and completion schedules; (ii) business and future potential of Terra Nostra Resources Corporation ("TNR"); (iii) estimates of future earnings, and the sensitivity of earnings to metals prices, and; (iv) estimates of future metals production and sales, are all forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.. Further risks, uncertainties and other factors, which affect the forward-looking statements included herein, and could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements include, but are not limited to, completion of TNR's capital contributions to the joint venture companies, working capital financing, metals price volatility, competition for projects, reserve acquisition costs, currency fluctuations, international economic uncertainty, sovereign risk, force majeure, changes in tax law or concession law, project scheduling delays, labor disputes, increased production costs and variances in ore grade, scrap grade or recovery rates from those assumed in production plans, political and operational risks in the countries in which TNR may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in TNR's filings with the Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended August, 2006. Copies of each filing may be obtained from TNR or the SEC. Furthermore, metals operation, by their very nature, entail cyclical, sectoral, and commodity risk and could expose an investor to the entire loss of all capital invested. TNR does not undertake any obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Terra Nostra Resources Corporation
CONTACT: Investor Relations: 1-866-626-0088
Web site: http://www.tnr-corp.com/
PAM - Pacific CMA, Inc. Announces That the AMEX's Staff Seeks to Delist PAM's Securities From the AMEX
2006-12-07 16:01 ET - News Release
JAMAICA, N.Y., Dec. 7, 2006 (PRIME NEWSWIRE) -- Pacific CMA, Inc. (AMEX:PAM) ("PAM") received notice from the AMEX staff stating they were commencing proceedings to delist PAM's common stock from the AMEX due to alleged violations of Sections 401(a), 1002(d), 1002(e), 1003(d) and 1003(f)(iii) of the AMEX's Company Guide, in that PAM's officers and agents, acting in conjunction with an AMEX specialist's former officer, certain market makers and others, allegedly manipulated the market price of PAM's common stock and unlawfully issued shares of its common stock in order to meet the AMEX's listing criteria while failing to disclose same to the AMEX, shareholders, investors and the marketplace. The AMEX staff also asserts that PAM's securities were not eligible for listing at the time of PAM's application for listing, are not eligible now and in the public interest are subject to delisting from the AMEX.
PAM intends to appeal this determination and request a hearing on the allegations before a committee of the AMEX. PAM categorically denies the allegations, believing they are based upon misinterpretations of the facts and falsehoods. PAM will take every action and effort to debunk the allegations of the AMEX staff and prevent a delisting of its common stock from the AMEX. There can be no assurance that PAM's request for continued listing will be granted.
About Pacific CMA, Inc.
PAM is an international, non-asset based supply-chain management company, providing air and ocean freight forwarding, contract logistics and other logistics-related services. PAM's large and diverse global and local customers operate in industries with unique supply chain requirements, such as the apparel and technology industries. Its AGI Logistics (HK) Ltd. operating unit, based in Hong Kong, is focused on integrated logistics, freight forwarding and warehousing services in the Far East region and Mainland China. Its Airgate International operating unit, founded in 1995, is based in New York and primarily handles import air and ocean shipments from the Far East and Southwest Asia to the United States. The newest division, Paradigm Global Logistics, is located in Los Angeles. For more information, please refer to the Company's website: http://www.pacificcma.com.
Forward-Looking Statements
This press release may contain statements which constitute forward looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, including statements regarding the intent, belief or current expectations of PAM, its directors, or its officers with respect to the future operating performance of PAM. These forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "plan,: "estimate," "approximately," "intend," and other similar words and expressions, or future or conditional verbs such as "should," "would," "could," and "may." In addition, PAM may from time to time make such written or oral "forward-looking statements" in filings with the Securities and Exchange Commission (including exhibits thereto), in its reports to shareholders, and in other communications made by or with the approval of PAM. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. Important factors that could cause such differences are described in PAM's periodic filings with the Securities and Exchange Commission.
CONTACT: Pacific CMA, Inc.
John F. Mazarella, CFO
(212) 247-0049
john.mazarella@pacificcma.com
PACT - PacificNet Announces 3G Strategy at ITU Telecom World 2006
2006-12-06 12:08 ET - News Release
BEIJING, Dec. 6 /Xinhua-PRNewswire/ -- PacificNet Inc. , a leading provider of customer relationship management (CRM), mobile internet, games and gaming, ecommerce and Value-Added Telecom Services (VAS) in China, announced today that its Chairman and CEO, Tony Tong, Victor Tong, President, and Super Wang, General Manager of PacificNet's Guangzhou 3G subsidiary, discussed its 3G strategy while attending the 3G Showcase at ITU Telecom World 2006 (http://www.ITU.int/WORLD2006/). ITU Telecom World is the largest telecom conference and expo in the world and is hosted at the AsiaWorld-Expo, Hong Kong, from December 4-8, and is sponsored by the International Telecommunications Union (ITU) and attended by all of the major telecom leaders of the world.
Commenting on the status of the long anticipated issuance of 3G licenses in China, Mr. Wang Xudong, China's minister of the information industry, announced at the ITU Telecom World 2006 that China will issue 3G licenses "very soon", and reiterated a commitment to enable operators to offer 3G services during the 2008 Olympic Games in Beijing. Mr. Zuo Xunsheng, CEO of China Netcom (CN) also declared at the ITU that China Netcom and China Telecom (CHA) could receive the 3G licenses as early as February 2007. In addition, Mr. Chen Wu, VP of China Unicom Macau Branch, announced at the ITU that Macau Unicom plans to launch 3G services in Macau in the second quarter of 2007.
With the long anticipated issuance of 3G licenses in China, the ITU Telecom World 2006 draws a lot of attention from industry leaders, telecom experts, telecom scholars, and government officials involved with 3G services. These include China's Ministry of Information Industry (MII), China Mobile, China Unicom, China Telecom, China Netcom, Huawei, ZTE, DaTang's TD-SCDMA, Qualcom, Nokia, Motorola, Samsung, NMS, and leading hardware vendors, handset providers, content providers, and value-added service provides involved in the 3G industry value-chain. 3G services enable video calls, faster data downloading speeds and mobile Internet access.
Mr. Tony Tong, Chairman of PacificNet, discussed the company's 3G value-added service offerings with the imminent roll-out of 3G services in China by its telco partners. Mr. Tong stated, "As discussed by China's leading government and telecom leaders at the ITU this week, we expect that the Chinese government will officially grant the 3G licenses within a few months and we are sure there will be 3G networks operational in the main cities before the Olympics in 2008, or even earlier. We welcome the imminent arrival of 3G services in China. No matter who gets the 3G licenses, PacificNet will benefit because we have good working relationships with all four of the major telecom operators in China: China Mobile, China Unicom, China Telecom and China Netcom."
PacificNet has been an active player involved in providing value-added telecom services, mobile games, mobile applications, and CRM services in China, the world's largest mobile user base with about 400 million mobile users. With China's anticipated 3G launch, the stakes are high and the opportunities are immense for new 3G value-added services. Telecom users in China can experience our iPACT VAS through our broad geographical presence and local VAS offerings in 27 provinces in China through our VAS operating subsidiaries including Guangzhou 3G, Clickcom, and Wanrong. We look forward to the launch of 3G services in China as we expect it will drive the demand for PacificNet's iPACT, mobile games, CRM, IVR, and VAS services. We are well positioned to capture the business opportunities in China's future 3G services market.
PacificNet recently signed an agreement with China Unicom to become one of the designated value-added short message services (SMS) providers for Uni- Info, a recently launched mobile information service to service mass market China mobile users. Uni-Info is an SMS-based information subscription and delivery-on-demand service launched by China Unicom and is now available to its GSM (Global System for Mobile Communications) and CDMA (Code Division Multiple Access) phone users. Its content offerings include a wide variety of services such as entertainment and financial information, as well as interactive gaming and dating, enabling its subscribers to enjoy the convenience and access to first-hand information via SMS in over 20 cities and provinces in China.
PacificNet has also been a long term CRM service provider for China Telecom in providing Customer Relationship Management (CRM) consulting, telemarketing management and call center training services. China Telecom has selected PacificNet for multiple and on-going projects to enhance the CRM service level and telemarketing management capability of China Telecom's customer service center called the "10000 Information Hotline."
PacificNet's MOABC.com is a leading mobile internet portal in China with 11 million registered users and boasts one of the top-ranked mobile internet sites, featuring mobile social networking services (SNS), mobile games, and entertainment. This free WAP portal provides a variety of mobile internet services such as news, mobile gaming and entertainment services, mobile blogs, mobile email (Mo-Mail), Avatar and virtual pets, mobile online dating, mobile instant messaging, virtual communities, mobile social community and virtual showrooms to China's increasing mobile phone and internet user base.
"With the early success of our mobile WAP portal services in China, we believe the market potential is strong for our WAP.MOABC.COM mobile portal and community, especially in light of the impending launch of 3G services in China," said Victor Tong, President of PacificNet. "With over 11 million registered users, we believe that our fun and entertaining mobile portal and sizable user-base will contribute positively to PacificNet's overall strategy in mobile gaming and e-commerce. With China being the largest and fastest growing telecom market in the world, with over 400 million mobile subscribers, we believe that our strong experience in mobile social networking services (SNS) and mobile games will contribute positively to PacificNet's growing CRM and gaming service network in China and Macau."
According to industry reports, there are currently 151 3G license holders operating in 56 countries and 207 3G-networks globally, serving a total of 200 million 3G users worldwide. In Asia, 3G subscribers have reached a market share of 38% while 62% of the total mobile subscribers are 3G enabled in Japan and Korea, respectively. According to estimates, the total anticipated 3G market size in China will reach RMB 285 billion (US$35.6 billion) within 5 years after the launch of 3G in China, creating about 30 million new jobs annually in China's 3G services market. According to recent industry reports by CCID and DoNews, 3G Killer Apps will concentrate on the 3Gs: Games, Gambling and Girls, as mobile online games will become vastly more popular with the launch of 3G networks in China. Forecasts frequently note that online and offline mobile gaming differs greatly in terms of their service models. Online gaming uses a telecom service model earning revenues from traffic fees during play, while offline mobile gaming is simply a game application downloaded onto a handset for a small fee. The forecasts predict strong growth for WAP, JAVA and BREW, while the proportion of SMS-enabled games will drop. With over 400 million mobile phone users, China has already become the largest mobile population in the world. Moreover, the number of mobile users is still growing rapidly and has far exceeded the number of PC-based internet users, which is about 120 million, in China.
About ITU and China's 3G Standards
The International Telecommunication Union (ITU) is an international organization established to standardize and regulate international radio and telecommunications. It was founded as the International Telegraph Union in Paris in May 17, 1865, and today is the world's oldest international organization. ITU, headquartered in Geneva, Switzerland is an international organization within the United Nations System where governments and the private sector coordinate global telecom networks and services. Its main tasks include standardization, allocation of the radio spectrum, and organizing interconnection arrangements between different countries to allow international phone calls.
3G (or 3-G) is short for third-generation technology. The services associated with 3G provide the ability to transfer both voice data (a telephone call) and non-voice data (such as downloading information, exchanging email, and instant messaging) simultaneously. In marketing 3G services, video telephony has often been used as the killer application for 3G. The European flavor of 3G is called W-CDMA, a technology with the backing of Nokia and Ericsson; a version used by some U.S. carriers is called CDMA 1000x; and China's is called TD-SCDMA. TD-SCDMA (Time-Division Synchronous Code-Division Multiple Access) is a 3G mobile telecom technology standard that has been submitted to the ITU by the Chinese government. In May 2000, the International Telecommunication Union (ITU) approved TD-SCDMA as a global 3G standard. Since then, China's domestic vendors, for the first time, have control of a telecommunications industry standard, and bears the responsibility of nurturing the technology's development to compete against WCDMA and CDMA2000 1x EV-DO in China's 3G market. Domestic control of TD-SCDMA means greater autonomy and potentially lower costs for domestic vendors and operators. Currently, TD-SCDMA, WCDMA and CDMA2000 1X EV-DO, are the 3G standards to be launched in China. With the full support of the Chinese government and the TD-SCDMA Industry Alliance (TDIA), TD-SCDMA is well positioned to compete in the China 3G market.
TD-SCDMA (Time Division-Synchronous Code Division Multiple Access) is a 3G mobile telecommunications standard, being pursued in the People's Republic of China by the Chinese Academy of Telecommunications Technology (CATT), Datang and Siemens AG, in an attempt to develop home-grown technology. On January 20, 2006, the Ministry of Information Industry of the People's Republic of China formally announced that TD-SCDMA is the country's standard of 3G mobile telecommunication.
About PacificNet
PacificNet Inc. is a leading provider of Customer Relationship Management (CRM), e-commerce and gaming technology in China. PacificNet's clients include the leading telecom companies, banks, insurance, travel, marketing, and business services companies, and telecom consumers, in Greater China. PacificNet's corporate clients include China Telecom, China Mobile, Unicom, PCCW, Hutchison Telecom, Bell24, Motorola, Nokia, SONY, TCL, Huawei, American Express, Citibank, HSBC, Bank of China, Bank of East Asia, DBS, TNT, and Hong Kong Government. PacificNet employs over 1,400 staff in its various subsidiaries throughout China with offices in Hong Kong, Beijing, Shenzhen, Guangzhou, Macau, and branch offices in 28 provinces in China and is headquartered in Beijing and Hong Kong.
About Guangzhou 3G
PacificNet's subsidiary Guangzhou 3G is one of the leading value-added telecom and information services providers in China with both voice (IVR and call center) and data (SMS, MMS, WAP, JAVA, GPRS) connection to the four major telecom operators: China Mobile, China Unicom, China Telecom, and China Netcom, covering both mobile and fixed-line networks. Guangzhou 3G also offers a wide variety of IVR and other wireless and fixed-line, value-added telecom services including color ring back tone (CRBT) services, background music (BGM) services, VICQ mobile instant messaging services, sports and soccer news, weather forecasts, stock market, music and mobile karaoke, mobile TV, games, entertainment, chat line and dating services. Guangzhou 3G currently employs 238 staff and has offices in 26 provinces in China.
Safe Harbor Statement
This Company's announcement contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Potential risks and uncertainties include, but are not limited to, PacificNet's possible future losses, uncertain regulatory landscape in China, and fluctuations in quarterly operating results. Further information regarding these and other risks is included in PacificNet's Form 10KSB and other filings with the SEC.
Contact:
PacificNet USA office: Jacob Lakhany, Tel: +1-605-229-6678
PacificNet Beijing office: Ada Yu, Tel: +86 (10) 59225000
23rd Floor, Building A, TimeCourt, No.6 Shuguang Xili, Chaoyang District, Beijing, China 100028
PacificNet
CONTACT: USA office: Jacob Lakhany, +1-605-229-6678, or Beijing office:
Ada Yu, +86-10-59225000, both of PacificNet
Web site: http://www.ITU.int/WORLD2006/
ZNH - China Southern Announces Major Change in Sino-Chinese Service
2006-12-06 13:38 ET - News Release
Airline to Move to LAX Tom Bradley Terminal on December 9
LOS ANGELES -- (Business Wire)
China Southern Airlines (NYSE:ZNH) (HKSE:1055) (SHA:600029) - www.cs-air.com/en - with the largest and most technically advanced aircraft fleet in The People's Republic of China, announces a significant change to its Trans-Pacific, Sino-USA non-stop Boeing 777 service.
After more than nine years at Terminal 5 at Los Angeles International Airport, China Southern Airlines will be moving to the Tom Bradley International Terminal.
This new move - starting Friday, December 8 - will allow China Southern to offer customers even more international flight connections throughout North, Central and South America.
Delta Air Lines customers will continue to enjoy code-share benefits and frequent flyer mileage on their China Southern Airlines Trans-Pacific flights. China Southern Airlines is the only airline to offer non-stop service between Los Angeles and Guangzhou, China.
The largest airline in The People’s Republic of China for the past 27 years, China Southern Airlines - www.cs-air.com/en - connects more than 80 cities around the globe. Major business and vacation destinations served in China include: Beijing, Chengdu, Guangzhou, Guilin, Hong Kong, Kunming, Shanghai, Shenzhen and Wuhan and as well as international service, including: Amsterdam, Bangkok, Dubai, Fukuoka, Hanoi, Ho Chi Minh City, Islamabad, Kuala Lumpur, Jakarta, Lagos, Los Angeles, Manila, Melbourne, Moscow, Osaka, Paris, Penang, Phnom Penh, Seoul, Singapore, Sydney and Tokyo.
For China Southern Airlines reservations and information, please contact your local travel agent.
Contacts:
China Southern Airlines
Mr. Jeff Ruffolo, Senior Advisor
Office +1-714-532-2054
E-Mail: Ruffolopr@hotmail.com
Skype: JeffRuffolo
Source: China Southern Airlines
XHUA - Xinhua China Ltd. Clarifies Its New Strategy; Reports Results For First Quarter Based Only on Online Operations
2006-12-06 14:18 ET - News Release
BEIJING, Dec. 6 /Xinhua-PRNewswire/ -- Xinhua China Ltd. today clarified its new operating strategy following deconsolidation of its interest in Xinhua Publications Circulation & Distribution Center Co. Ltd. in Beijing, China. "We are concentrating our business strategy on the growing opportunity in China for online content distribution, co-publishing and digital rights management," reported Xianping Wang, president and chief executive officer.
"We expect the connections and channels established within the publishing industry as a result of our interest in Xinhua C & D will help us execute this strategy. We still own 7.98 percent of Xinhua C & D so there is an ongoing relationship there. We anticipate establishing Xinhua China wholly owned subsidiaries as leaders in the digital media industry in China," Mr. Wang added.
"Our goal is to build our business to include electronic sales, delivery and distribution of media content. We plan to partner with publishers outside of China to provide their content within the country. To become a digital media company we have established one subsidiary and will establish one more. The first is Joannes, intended to be our digital media company to distribute all digital content for Xinhua C & D and others. It anticipates operating its e-commerce portal as www.geezip.com. It plans to allow customers to purchase electronic and hard copies of books online," Mr. Wang noted.
"Additionally, we are planning to establish a co-publishing company to secure agreements with Chinese domestic publishers and others outside of China for publishing hard copy and digital works," he stated.
In announcing results for the first quarter ended September 30, 2006, Mr. Wang noted that because of the deconsolidation of its majority ownership in Xinhua C & D effective May 31, 2006, the first quarter encompasses operations of Joannes only. Therefore, year-to-year comparisons when the year ago quarter included the operations of Xinhua C & D are not comparable, he said.
Net sales for this year's first quarter totaled $50,220 after discounts and returns versus $16,068,991 in the year ago quarter that included Xinhua C & D. The company had a net loss of $1,295,925 in the quarter this year compared with a net loss of $1,715,896 in the year ago quarter. The company said it is taking actions to cut costs and build the business, including reductions in headcounts and corporate overhead expenses, while developing the Joannes business.
The company announced its pending sale of its Boheng ownership and said that is expected to reduce general and administrative expenses. On September 30, Xinhua China entered an agreement to dispose of its 95 percent equity interest in Boheng for approximately $1.9 million cash. The company received a deposit of $252,000 during the first quarter. The balance is to be paid in interest free installments payable over two years. The transaction is subject to the company receiving consent of the holders of its convertible debentures which has not yet been received, it reported.
The company reported working capital on September 30 of $1.26 million versus $1.22 million at June 30, 2006. It said the reduction in its equity interest in Xinhua C & D discharged its commitment to contribute further capital of $16.7 million into that company. These moves are intended to alleviate the demands on cash flow in the future, it stated. The company currently has a shareholders' deficiency of $7.92 million.
Cash used in operations, it said, amounted to $657,689 in the first quarter, which primarily paid its general and administrative expenses and those related to Boheng.
About Xinhua China
Xinhua China Ltd. is a US-traded holding company and a US domiciled company with publishing and distribution interests in China. Through its subsidiary, Beijing Joannes Information Technology Co., Ltd., it is entering into the online distribution businesses through existing and new strategic partnerships with both domestic and foreign publishers, authors, and distributors in China.
Safe Harbor Statement
This news release may include forward-looking statements within the meaning of section 27a of the UNITED STATES SECURITIES ACT of 1933, as amended, and section 21e of the UNITED STATES SECURITIES and EXCHANGE ACT of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, Xinhua China's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "safe harbor" provisions of the United States private securities litigation reform act of 1995 and involve risks and uncertainties, which could cause actual results to differ materially from those in the forward-looking statements contained herein.
At Xinhua China Ltd.: At The Investor Relations Company:
Alex Helmel Woody Wallace or Michael Arneth
Investor Relations (312) 245-2700
info@xinhuachina.com.cn
(604) 681-3864 * (800) 884-3864
China Ltd.
Xinhua
CONTACT: Alex Helmel, Investor Relations of Xinhua China Ltd.,
+1-604-681-3864, or 1-800-884-3864, info@xinhuachina.com.cn; or Woody
Wallace or Michael Arneth, both of The Investor Relations Company,
+1-312-245-2700
APYM - Asia Payments Signs JV Agreement to Form Payment Card Company in Mongolia
2006-12-07 08:00 ET - News Release
HONG KONG -- (MARKET WIRE) -- 12/07/06
Asia Payment Systems, Inc. (OTCBB: APYM) ("Asia Payments") today announced that its wholly owned subsidiary, Interpay International Resources Ltd. ("Interpay"), has signed an agreement with two Mongolian nationals to form a joint-venture payment card company in Mongolia. The JV card company, which will be incorporated as Interpay Card (Mongolia) Co. Ltd. ("Interpay Mongolia"), will receive an initial investment of US$800,000. Asia Payments, through its subsidiary, will own 50% of Interpay Mongolia.
Cardtrend Systems Sdn. Bhd. ("Cardtrend"), the recently acquired wholly owned subsidiary and Processing Business Unit of Asia Payments, will supply turn-key card management systems, while Interpay International Associates Ltd., another wholly owned subsidiary, will set up the card operating center for Interpay Mongolia. Interpay International Associates will also provide management and technical services in return for an annual management fee based on annual pre-tax profits.
Interpay Mongolia will be sponsored by a bank affiliated with its Mongolian shareholders, Anod Bank, a fully licensed Mongolian bank, to become a licensee for MasterCard Worldwide and/or Visa International and issue MasterCard and/or Visa cards in Mongolia. Anod Bank will also enter into a cooperation agreement with Interpay Mongolia to provide cardholders with a revolving line of credit. At a later stage, Interpay Mongolia will seek to enter into similar cooperation agreements with other banks in Mongolia to accelerate the development of the payment card market in that country.
Mr. KK Ng, President and CEO of Asia Payments, says: "The growing economy of Mongolia offers an opportune time for Asia Payments to enter this relatively untapped payment card market. We will use our experience and know-how to rapidly penetrate the market and expect to achieve a positive return on our investment in the second year of operation."
Mr. Ng added, "We will continue to actively seek local parties in several Asian countries, including China, for similar joint-ventures."
ABOUT ASIA PAYMENT SYSTEMS, INC.
Asia Payment Systems, Inc. ("Asia Payments") is a fully reporting US public company with its principal office in Hong Kong and business activities keenly focused within the payments and loyalty-rewards industries in China and throughout Asia. Asia Payments' recently formed wholly owned foreign enterprise in Shanghai serves as its business development vehicle in China. Following recent acquisitions, Asia Payments now owns assets and operates in multiple locations across Asia. In line with its long-term growth strategy, Asia Payments now has three distinct yet synergistic business units: Processing Business, Cards Business and Prepaid Business. For more information please visit Asia Payments' corporate website (www.asiapayinc.com).
Contact:
Asia Payment Systems, Inc.
KK Ng
President & CEO
(206) 447-1379
Email Contact
Three China ETFs Offer Different Approaches
By Donald H. Gold
8/09/2006
For all the hype about spectacular investment opportunities in China, much of it well deserved, American investors face daunting challenges.
A good number of companies in the colossal emerging market trade on the Nasdaq and NYSE. Many more are listed on exchanges in mainland China or Hong Kong.
A U.S. investor might be better off buying exchange traded funds, which give greater access to broad swaths of China's economy compared with the hunt-and-peck approach of prospecting for ADRs.
At the root of any decision is China's emergence as an economic and political power. China's vast population and stellar growth are a potent combination. Beijing says its economy is growing 9.9% a year.
A China ETF is for the investor who wants a piece of that action. It's the fund's job to own a defined piece, not to trade in and out of it. Like all ETFs, these are passive investment funds that track an index.
Three China ETFs
Three big plays in the China ETF arena are iShares FTSE/Xinhua 25 Index, (FXI) which is up 27% this year; PowerShares Golden Dragon Halter USX China, (PGJ) up 13.32%; and iShares MSCI Hong Kong Index (EWH), up 8%.
"The FXI (iShares FTSE/Xinhua 25 Index) is heavily weighted in financials and telecom," explained Anthony Welch, portfolio Manager at Sarasota Capital Strategies. "Its top holding, China Mobile, (CHL) at 10.5% of assets, is up more than 50% in the last 12 months."
PowerShares Golden Dragon Halter USX China has funneled just 6% of its assets into China Mobile.
PowerShares is more diversified than iShares FTSE/Xinhua 25. PowerShares' top five holdings make up 25.97% of its portfolio. For iShares, the top five account for 40.07%.
Loaded With Internet
"PowerShares has a lot of info-tech and Internet stocks, which haven't performed as well," Welch said.
Sector performances can vary a lot more in China than in the U.S.
But iShares' aggressive posture holds higher risk. If one of those big holdings goes bad, the fund's total returns will suffer more than if the same bad luck hits PowerShares.
The iShares MSCI Hong Kong Index lags the two mainland funds. But Hong Kong is considered a separate entity from China with its own currency, parliament and a long history of capitalism.
Many of the companies in this index were founded when the British held sway on the island, and still have connections to the U.K. This ETF has been around for 10 years and is heavily weighted toward financial companies and utilities.
IShares MSCI Hong Kong's history shows how rocky China, or any emerging market, can be.
Returns swing from losses in the upper teens each year in 2000-02 to a 36% surge in 2003. Its five-year performance is 10%.
KRLD "SUNDAY MORNING STAFF MEETING",
3/7/2004 - Transcript
"Stock Index Tracks Fastest Growing Economy"
TIM HALTER-CHINA INDEX
3/07/2004
Coming up - KRLD's Mike Rogers looks at the fastest growing economy in the world - China, with Tim Halter of Dallas who tracks the growth.
Its 6:35 on Sunday Mornings Staff Meeting. Good morning - Tracking one of the fastest growing economies of the world - that's the idea behind a new stock index founded by a Dallas County man. Tim Halter says his Halter USX China Index follows 35 of the biggest companies based in that country and traded here in the U.S. This past week he spoke with KRLD's Mike Rogers.
Tim: We believe for many different and compelling reasons that China represents the best investment opportunity in the world today and likely probably for a few decades to come.
Mike: So to reflect that economic growth in China you put together this index. You got 35 companies on it right?
Tim: That is correct, here is the idea- if you believe China is the place to invest, how do you participate? You have a couple of options - one is to go and actually invest in or buy stocks that are listed overseas. Most people here though are rather uncomfortable with that. Maybe some professionals and institutions and so forth but the average investor isn't really comfortable with investing in the Shanghai Stock Exchange. We don't understands its rules, its laws, etc. Therefore, we have identified the universe of the companies that are doing the majority of their business in China but yet are traded publicly here in the U.S. And that is the basic idea, the premise behind the Halter USX China Index.
Mike: Are there that many companies like that?
Tim: At the moment there are 35 that meet our criteria. There are more than 35 Chinese companies traded here, but we have established certain minimum criteria. They must be a certain size or liquidity, have to be listed on at least the New York Stock Exchange, Nasdaq or American Stock Exchange. So yes at the moment there are 35 that qualify and that number is growing all the time. Probably in my guestamation we will surpass 50 by the end of the year.
Mike: What kinds of companies are these?
Tim: It is actually interesting in that it represents fairly well almost the entire Chinese economy and its pretty diverse. We have everything from airlines to automobiles to Internet to mining to oil & gas, chemical, telecommunication. Really, it's a microcosm of what constitutes the Chinese economy and wrapped up into one index.
Mike: Are all of these growing companies - all of them doing well now?
Tim: There are two answers to that question. There are the companies themselves and generally speaking yes. They are growing - of course the economy is growing overall extremely fast and certain sectors are growing faster than others. For example, the automobile industry has taken off like a rocket. The infrastructure of the electricity industry is growing very quickly. The telecommunications industry is another one. Already there are more cell phones in China than there are in the US. But that only taps a small fraction of the potential there. There are many people in China that don't have any phone service at all; so wireless is a great option. That is an extremely fast growing industry and so as far as industry and company growth - absolutely. But performance of the Chinese stocks is a separate story. As a group our index was up over 100% last year, in fact 103% for the year. It certainly is indicative of how well Chinese stocks are doing here in the U.S. market.
Mike: If you invested in these 35 companies last year at this time - you would have doubled your money.
Tim: That is correct.
Mike: That is amazing.
Mike: If you would like to check out Halter's stock list you can log onto his website USXChinaIndex.com.
TTCM China Announces Founder Mr. Wang JiQun Appointed as Vice Chairman of Greater TianJin BoHai Holding Company Group, Ltd. to Develop Key Regions in China
2006-12-06 09:18 ET - News Release
MOUNTAIN VIEW, CA -- (MARKET WIRE) -- 12/06/06
TTCM China, Inc. (PINKSHEETS: TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes for water supply, sewer systems and flood control, today announced that the company's Chairman and Founder, Wang JiQun, has been appointed as the Vice Chairman of the Board of the Greater TianJin BoHai Holding Company Group, Ltd., one of the largest privately owned development companies in China responsible for overseeing the construction and development of privately owned enterprises in three key major regions: TianJin and TangShan cities of HeBei Province (population 68+ million), the QingDao City region of Shandong Province (population 91+ million), and the DaLien City region of LiaoNing Province (population 40+ million). With the participation of the central government, TianJin BoHai Holding Company Group is making great contributions to the development of key regions in China. It is expected that TTCM China will be an integral part of these development projects.
Mr. Wang JiQun, Founder and Chairman of TTCM China, said, "This is indeed a great honor and privilege to be recognized by the central government and appointed as the Vice Chairman of the Board of Greater TianJin BoHai Group Holding Company, Ltd., to develop these key regions of the country. We recognize that with a combined population of more than 200 million, there is great demand in these regions for further development and improvement. TTCM China, Inc. will be an integral part of future development projects. Because our pipes are more lightweight and cost efficient, they are suitable for large-scale projects such as those required in these areas, and based on our ability to provide suitable cost-effective solutions, expect to see growing momentum in 2007 and into 2008 to meet the tremendous demand for clean water delivery and flood control systems in China."
For a video presentation of the company's operation, products and facilities, visit: http://www.investsourceinc.com/php/viewclient.php?id=109.
About TTCM China, Inc.
TTCM China, founded in 1995 and based in TianJin China, is a leading producer of glass-reinforced composite fiber plastic products including regular and high-pressure pipes, fittings, round containers, cooling towers and fans. In addition to its headquarters in TianJin, the Company has marketing offices in Hebei and Sichuan. In cooperation with the Harbin Industry University, TTCM has developed an advanced technology employing micro-emulsification, which enables a reduction of the amount of resin used in the production process and at the same time raises the product compactness, strength and infiltration quality. These procedures make TTCM's glass-reinforced plastic pipes superior in strength to plastic pipes while they only weigh one-fourth the weight of regular steel pipes. The company is in negotiations with provincial and municipal government agencies and private companies concerning the provision of pipes for water supply systems.
For more information, visit http://www.ttcmchina.com.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks associated with the operation in China where certain economic or political situations might adversely affect the outcome of the envisioned business.
Contact:
TTCM China, Inc.
2680 Bayshore Pkwy, Suite 307
Mountain View, CA 94043
Tel: 650 960 3311
650 960 1155
Fax: 650 960 1133
Investor Relations:
InvestSource, Inc.
http://www.InvestSourceInc.com
Tel: 866 427 2196
Fax: 949 209 8699
MLHP - HolleyPharm Group and Millenia Hope Inc. Sign a Memorandum of Understanding to Collaborate on New Herbal Drugs and Products
2006-12-06 08:30 ET - News Release
WILMINGTON, DE, MONTREAL, CA and HANGZHOU, CN, Dec. 6 /PRNewswire-FirstCall/ - HolleyPharm Group and Millenia Hope Inc. announced today that they have signed a Memorandum of Understanding to collaborate on the development of a series of new plant-based products for the pharmaceutical and herbal markets using the resources of the two companies.
ABOUT HOLLEYPHARM GROUP & HOLLEY GROUP
With more than 30 years' history, HolleyPharm Group is a privately owned corporation with Holley Group Ltd. as the parent company. With total assets of RMB 4.3 billion and a staff of around 8,000, Holley Group is a trans-regional, multi-industry and export-oriented enterprise, holding 4 publicly listed companies (3 Chinese and 1 NASDAQ). The company's businesses cover metrological instruments, power equipment, information technology, and biopharmaceuticals. The company has a GAP-approved Artemisia cultivation farm in Chongqing, bases in major cities and a distribution network in the provinces of China for their pharmaceutical business. As far as the malaria markets are concerned, Holley has distributed Cotexin, its proprietary monotherapy product dihydroartemisinin, in the malaria endemic countries of Africa for more than 8 years and it has become the leading brand in the region.
Holley Group and its affiliates are one of the world's largest manufacturers and research groups in artemisinin and its derivatives. Holley Group and its affiliates have been farming, extracting, purifying, and manufacturing pharmaceutical grade artemisinin, and developing and manufacturing its derivatives for over two decades. Their products are manufactured under current Good Manufacturing Practice (cGMP) in ICH-WHO-certified facilities in China.
Artemisinin is the first category of a new medicine independently developed by Chinese scientists more than three decades ago. It is also the only herbal medicine conforming to western medicine standards that is ratified by WHO. One of the two Chinese herbal medicines listed in the World Pharmacopoeia, artemisinin is proclaimed by WHO as "an important landmark after quinine in the world's medical history of fighting malaria." Holley Group has invested large amounts of capital in China to promote the integration of artemisinin resources and has devoted major efforts to developing antibiotic combinations of Artemisia annua L, all of which reflect Holley's corporate mission of "Promoting Community Well-being and Fulfilling the Value of Life". www.holley.cn
ABOUT MILLENIA HOPE INC & MILLENIA HOPE BIOPHARMA:
Millenia Hope develops innovative treatments and products that enhance the quality of life, has put in place programs to fight major infectious diseases, and promote healthier lives. MHI is committed to research and development to deliver on global medical needs and to bring hope through healthcare solutions. Founded in 1997 the company has initially focussed on the need to bring safe and affordable herbal therapies to market for major third world diseases such as malaria and HIV. The first product in this series is Malarex MMH18. Millenia is also pursuing inhibitors of HIV RNase H (patent application pending). Successful development of a drug that targets HIV RNase H will play an important role in the treatment of HIV/AIDS patients who have become resistant to current therapy. The revenue of a first-in-class, orally bio-available drugs that targets HIV RNase H is estimated at US$350-$500 million per year. The current market for HIV drugs is about US$6 billion, estimated to reach US$10 billion by 2010. Professor Michael A. Parniak (University of Pittsburgh School of Medicine) presented some of Millenia Hope's results at the 12th conference on Retroviruses and Opportunistic Infections in Boston, Massachusetts (February 2005). MHB also provides a plant based drug discovery platform designed for High Throughput Screening and is currently working with a number of leading multinational corporations such as Pierre Fabre Medicaments. www.mh-b.com and www.milleniahope.com
SAFE HARBOR STATEMENTS:
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts, and expectations of Holley Pharmaceuticals Company Inc. that may be referred to as "forward- looking statements." Several important factors could cause actual results to differ materially from those in such forward-looking statements and Holley Pharmaceuticals Company Inc. could encounter unanticipated obstacles and delays in developing products, services and markets.
Millenia Hope Biopharma
CONTACT: Holley Pharm: Mr. Arthur Wang, President / Dr. Kevin Mak, Vice
President, HolleyPharm Group, +86 (571) 8199 3223, arthur.wang@holley.cn /
kevin.mak@holley.cn; Millenia Hope: Mr Leonard Stella, CEO, +1 (514)
846-5757, leostella@milleniahope.com
LWLL - Linkwell Corporation Launches Exporting Division Anticipating Additional Revenues of $5 Million and 10% Net Profit Margin From This New Division in 2007
2006-12-06 08:00 ET - News Release
SHANGHAI, CHINA -- (MARKET WIRE) -- 12/06/06
Linkwell Corporation (OTCBB: LWLL), a leading developer, manufacturer and distributor of healthcare-related disinfectants in China, today announced it has fully launched the operations of its exporting division, Shanghai LiKang International Trade Company, Limited, a wholly owned subsidiary of Linkwell.
LiKang International was established by Shanghai LiKang Disinfectant High-Tech Company, Limited with registered capital of $250,000. The main business of LiKang International covers but is not limited to various import and export activities. LiKang International, which began operations in July 2006, has mainly served as an agent for third parties who desire to import or export goods. Presently LiKang is expanding its scope of goods to include lightweight construction materials, textile crafts, furniture, and chemical raw materials.
The new division will be headed by Mr. Wei Guan, Vice President and Director of Linkwell Corporation. Mr. Guan has extensive experience in the import/export business. From 1987 to 1990, Mr. Guan worked in a management capacity for Hunan Machinery Importing and Exporting Corporation. From 1990 to 2002, Mr. Guan worked as general manager for a Division of Importing and Export at Worldbest Group in Shanghai. Mr. Guan graduated from Hunan University in Changsha, Hunan Province with a bachelor's degree in International Trading in 1987.
Mr. Xuelian Bian, CEO and President of Linkwell Corp., stated, "We are very excited about this new division. We will utilize our marketing savvy capabilities to extend to a new business sector in order for us to improve our financial performance and broaden our revenue base. We expect this division alone will generate over $5 million in annual revenues with approximately 10% net profit margin in the fiscal year of 2007."
About Linkwell Corporation
Linkwell Corporation (OTCBB: LWLL) develops, manufactures, and distributes disinfectant healthcare products in China through its 90% owned subsidiary Shanghai LiKang Disinfectant High Tech Company ("LiKang"). Linkwell's disinfectant healthcare products are a nationally recognized domestic Chinese brand in this market segment. Linkwell products include disinfectants in liquid, tablet, powder and aerosol form. Through LiKang, Linkwell has a national marketing and sales presence throughout all 22 provinces, 5 autonomous regions, and 4 special municipalities of China. All inventory and order fulfillment is carried out of a 21,500-square-foot facility in Shanghai's Jiading district. For more info about the company, please visit http://www.linkwell.us
Safe Harbor Statement
Certain of the statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "forecast," "anticipate," "plan," or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties and risks, including those relating to the Company's ability to grow its business. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
Contact:
Tel: 1-877-CHINA-57
Email: info@linkwell.us
MLHP - Millenia Hope Biopharma Announces a Major Plant Cell Culture Discovery-the Development of Parthenolide-Free Feverfew
2006-12-05 13:34 ET - News Release
MONTREAL, QC and WILMINGTON, DE, Dec. 5 /PRNewswire-FirstCall/ - Millenia Hope Biopharma a related company to Millenia Hope Inc. announced today that it has made a major breakthrough in the cell culture production of Feverfew, a plant whose extracts are used in the cosmetic industry. Feverfew (Tanatecum parthenium) extracts have long been used in natural medicine and the cosmetic industry. However, because of allergic reactions to parthenolide, a major component of the extract, the cosmetic industry has long sought Feverfew extracts that are parthenolide free. Using advanced plant cell culture technologies, Millenia Hope Biopharma has developed a process that produces parthenolide-free extracts. This will make it an ideal ingredient for creams and lotions for the cosmetic industry that focuses on natural plant based ingredients with useful pharmacological properties.
Millenia Hope Biopharma has applied for a patent to protect the industrial process for the production of this novel Feverfew extract. Dr. Bahige M. Baroudy, President and Chief Scientific Officer of Millenia Hope Inc., said, "We are elated that our R&D team was successful in a very short period of time of achieving this milestone of developing an entirely new product. This is a great validation of our Phytomics Technologies. Unlike Feverfew extracts that are obtained directly from plants, our extract is odourless, beige in color and partenolide-free that makes it much more attractive to the cosmetic industry. We have mounted a major endeavour to unravel new properties of our Feverfew extracts. We are confident that this new Feverfew extract will find more applications in the cosmetic industry than already anticipated. Our company and others have been looking for parthenolide-free Feverfew and today's announcement demonstrates our commitment to develop new and practical application of Phytomics, our proprietary plant cell culture platform."
ABOUT MILLENIA HOPE INC & MILLENIA HOPE BIOPHARMA:
Millenia Hope develops innovative treatments and products that enhance the quality of life. We are dedicated to fight major infectious diseases, and promote healthier living. Our team is committed to research and development to deliver on global medical needs and to bring hope through healthcare solutions. Founded in 1997 the company has initially focussed on the need to bring safe and affordable plant based therapies to market for major third world diseases such as malaria and HIV. The first product in this series is Malarex MMH18. Millenia is also pursuing inhibitors of HIV RNase H (patent application pending). Successful development of a drug that targets HIV RNase H will play an important role in the treatment of HIV/AIDS patients who have become resistant to current therapy. www.milleniahope.com
Millenia Hope Biopharma (MHB) a related company to MHI, founded in 2000, is the world's leading bioresearch firm in Phytomic Technologies, commercializing plant cell-based bioprocesses for the discovery, development and production of natural and novel plant-derived products for the pharmaceutical, cosmetic and nutraceutical industries. Avance Pharma has spent over US$25 million in developing its unique proprietary Phytomics Technologies which now belongs to MHB, including the world's largest collection of highly purified phytochemical fractions to be utilized in the pharmaceutical, cosmetic and nutraceutical industry. MHB also provides a plant based drug discovery platform designed for High Throughput Screening and is currently working with a number of leading multinational corporations such as Pierre Fabre Medicaments. www.mh-b.com
SAFE HARBOR STATEMENTS:
Certain statements made in this release may contain language describing the plans, goals, strategies, intentions, forecasts, and expectations of Holley Pharmaceuticals Company Inc. that may be referred to as "forward- looking statements." Several important factors could cause actual results to differ materially from those in such forward-looking statements and Holley Pharmaceuticals Company Inc. could encounter unanticipated obstacles and delays in developing products, services and markets.
MILLENIA HOPE BIOPHARMA
CONTACT: Mr Leonard Stella, Chairman & CEO, Millenia Hope Biopharma, (514)
288-8822, leostella@milleniahope.com